Paul O’Malley, Terry Bowen to step down from Coles board

The news: Supermarket giant Coles says Paul O’Malley and Terry Bowen will step down from their roles as board directors in the coming months.

The numbers: O'Malley, who is also chairman of CBA, has been on the Coles Group board for the last three years, while Mr Bowen, a former finance director at Wesfarmers, was appointed to the board last year.

The context: Coles said O’Malley would not stand for re-election at the forthcoming annual general meeting and would retire from the board on 31 October. Terry Bowen will retire from the board around late February when he will take up a senior executive role with US e-commerce technology business ROKT. Bowen is also departing from directorships at Transurban Group and BHP.